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Christian Gollier

vol. 80, January 2019, pp. 1–8

Joao Correia da silva, Bruno Jullien, Yassine Lefouili, and Joana Pinho

vol. 28, n. 1, January 2019, pp. 109–124

This paper discusses the literature on horizontal mergers between multi-sided platforms and argues that the Cournot model can provide useful insights into the welfare effects of such mergers. To illustrate those insights, we develop a simple model in which two-sided platforms offer a homogeneous...

Magdalena Monier, Sabine Noebel, Etienne Danchin, and Guillaume Isabel

vol. 12, n. 334, January 2019

Alice Baniel, Axelle Delaunay, Guy Cowlishaw, and Elise Huchard

vol. 6, n. 1, January 2019

Stéphane Caprice, and Shiva Shekhar

vol. 39, n. 1, January 2019, pp. 94–103

Multi-product retailers competing with smaller retailers can exercise market power by pricing below cost products also offered by smaller rivals. Loss-leading is not a predatory strategy: rather pro-competitive justifications are invoked. Unlike standard textbook models, we show that positive...

Jeffrey A. Friedman

vol. 63, n. 1, January 2019, pp. 181–196

Why do Americans’ priorities for combating risks like terrorism, climate change, and violent crime often seem so uncorrelated with the dangers that those risks objectively present? Many scholars believe the answer to this question is that heuristics, biases, and ignorance cause voters to...

Christian Gouriéroux, and Joann Jasiak

vol. 9, January 2019, pp. 14–41

The martingale hypothesis is commonly tested in financial and economic time series. The existing tests of the martingale hypothesis aim at detecting some aspects of nonstationarity, which is considered an inherent feature of a martingale process. However, there exists a variety of martingale...

Vincent Berthet, and Benjamin Ouvrard

vol. 5, January 2019, pp. 1–5

This article presents a particular viewpoint on how nudge should be understood. The concept of nudge has generated consid-erable interest among academics and policymakers. However, ten years later, what is meant exactly by “nudge” is still a matter of debate. In fact, there is a fundamental...

Marianne Andries

n. 133, January 2019, pp. 45–59

Risk aversion is the well documented psychological bias that makes us refuse to participate in zero-sum lotteries: to accept a 50 % chance loss of one dollar, we need to be offered a 50 % chance gain of more than 1 dollar, e.g. two dollars instead of one – a compensation for taking risk. Through...

Andrea Attar, Thomas Mariotti, and François Salanié

vol. 14, n. 1, January 2019, pp. 297–343

We study a discriminatory limit-order book in which market makers compete in nonlinear tariffs to serve a privately informed insider. Our model allows for general nonparametric specifications of preferences and arbitrary discrete distributions for the insider's private information. Adverse...